Olympus Nears Finish Line for $2.5 Bln Fund VI

Olympus Partners is near wrapping up fundraising for its sixth fund, expected to close at $2.5 billion, a source says.

Stamford, Conn.-based Olympus sent books out for the pool on Dec. 15, the person says. The PE firm last Friday asked potential investors for indications of interest and has received IOIs for more than $4 billion, the person says. The firm expects to close the fund in late March/early April, the person says.

“Thirty days and done,” the source says.

Should it close at $2.5 billion Olympus’s sixth fund would be about 66% bigger than its prior fund. Olympus Growth Fund V LP raised $1.5 billion in 2007.

Of Fund VI, Olympus return investors are expected to provide about $1.7 billion. A handful of new investors are contributing the rest, the source says.

Olympus join the ranks of PE firms that are enjoying a relatively speedy fundraise. Water Street Healthcare Partners spent less than eight weeks marketing for its third fund, which closed at $750 million in July. Parthenon Capital was also one of the quickest, according to Preqin. The firm needed only six months to collect $700 million for its fourth fund. Thoma Bravo also spent about five months on the road before closing its tenth fund at $1.25 billion in February 2012.

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